Market Insights Health Pharmacies OTC Products

Skin Treatment (Pharmacies) - Nordics

Nordics

Revenue in the Skin Treatment market is projected to reach US$124.30m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.74%, resulting in a market volume of US$156.70m by 2029.
In global comparison, most revenue will be generated in the United States (US$3,319.00m in 2024).
In relation to total population figures, per person revenues of US$4.43 are generated in 2024.

Key regions: Germany, Europe, South Korea, France, China

Market

Region

Region comparison

Currency

Analyst Opinion

The Skin Treatment (Pharmacies) market in Nordics has been experiencing significant growth in recent years.

Customer preferences: Customers in the Nordics have shown a strong preference for skin treatment products that are natural and organic. They are increasingly concerned about the ingredients used in skincare products and are seeking products that are free from harmful chemicals. This preference for natural and organic products is driving the demand for skincare products in pharmacies in the Nordics.

Trends in the market: One of the key trends in the Skin Treatment (Pharmacies) market in the Nordics is the growing popularity of anti-aging products. With an aging population, there is a high demand for skincare products that can help reduce the signs of aging. Pharmacies in the Nordics are offering a wide range of anti-aging products, including serums, creams, and masks, to cater to this demand. Another trend in the market is the increasing awareness and demand for products that address specific skin concerns. Customers in the Nordics are looking for skincare products that can target issues such as acne, dryness, and sensitivity. Pharmacies are responding to this demand by offering a variety of specialized skincare products that cater to different skin types and concerns.

Local special circumstances: The Nordics have a well-developed healthcare system, which includes a strong network of pharmacies. Pharmacies in the Nordics play a crucial role in providing healthcare services and products to the population. This includes not only prescription medications but also over-the-counter skincare products. The accessibility and trustworthiness of pharmacies in the Nordics make them a preferred destination for customers seeking skincare products.

Underlying macroeconomic factors: The strong economy in the Nordics is a key driver of the growth in the Skin Treatment (Pharmacies) market. With high disposable incomes, customers in the Nordics have more purchasing power and are willing to spend on skincare products. Additionally, the Nordics have a high standard of living, which includes a focus on personal well-being and self-care. This contributes to the demand for skincare products in the region. In conclusion, the Skin Treatment (Pharmacies) market in the Nordics is experiencing growth due to customer preferences for natural and organic products, the popularity of anti-aging products, and the demand for specialized skincare products. The accessibility and trustworthiness of pharmacies in the Nordics, coupled with the strong economy and high standard of living, contribute to the growth of the market.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on offline and online spending by consumers, including VAT. Not included are B2B and B2G sales, or other pharmaceutical sales through hospitals or retail stores such as supermarkets.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market market. As a basis for evaluating markets, we use industry associations, third-party studies and reports and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per country, consumer healthcare spending, GDP and internet penetration. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. For forecasting digital trends such as the online-pharmacy sales share we use exponential trend smoothing and the s-curve method. The main drivers are healthcare expenditure per country and consumer healthcare spending.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. GCS data is reweighted for representativeness.